T2S Release 3.2 – Deployment activities – update


Note: This announcement and the related attachment, originally published on 18 October 2019, have been updated in preparation for the upcoming deployment weekend.

Following Announcement D19036, Clearstream Banking AG, Frankfurt1 informed customers about the TARGET2-Securities (T2S) Release 3.2 that will be deployed on

the weekend 16 and 17 November 2019
for business day Monday, 18 November 2019

This Announcement shows the intended timeline and modifications in the T2S Operational Day between Friday, 15 and Monday, 18 November 2019 for the deployment of T2S Release 3.2. Additionally, at end of this Announcement a dedicated section “Notes for the start in production” is included.

T2S Change Requests and T2S Problem Tickets

CBF regularly updates the list of T2S Change Requests attached to Announcement D19036 and describes the T2S Problem Tickets (PBIs) that are resolved with T2S Release 3.2. Please note that only tickets that might have impact on CBF customers acting in ICP and / or DCP mode are listed. For the implementation with T2S Release 3.2, six PBIs that can also affect CBF customers have been authorised.

Impacts on the CBF Business Day for the T2S Release 3.2 Deployment Weekend

Due to the “T2S Release Weekend Schedule” the timeline2 of the operational day and respective reporting during the T2S deployment weekend will be changed.

With this Announcement, CBF customers receive the current schedule that highlights the processing during the deployment weekend. This attached schedule is based on the timeline announced in the T2S Playbook for the deployment weekend.

In addition to the implementation activities of T2S and CBF, customers using the SWIFT network for instruction management must note that the SWIFT Release 2019 will also be deployed on this weekend.

For this SWIFT has announced the below-mentioned maintenance window:

SWIFT Maintenance Schedule


Start time

End time

Maintenance type


16 November to
17 November 2019

Saturday 05:00

Saturday 16:00

General Maintenance

No disruption

Saturday 16:00

Sunday 05:00

Possible small disruption less than 10 minutes

Based on the most recent information provided, the following assumptions can be made:

  • Customers acting in ICP mode and using the CBF connectivity channels via SWIFT, MQ, File Transfer (FT) or ClearstreamXact need to consider that any instruction transmitted between Friday, 15 November 2019, at 19:45, and the finalisation of the Clearstream Banking implementation phase on Sunday, 17 November 2019 at around 06:00, will be queued in the backend systems. Only customers transmitting instructions via SWIFT to CBF will receive an acknowledgement upon receipt of the instruction based on their existing message subscription.
  • The opening hours of the Clearstream Online functionalities are modified. The CASCADE HOST / PC frontend and Xact Web Portal will be available until Friday, 15 November 2019 at 19:45. Afterwards the systems are shut down and will be open on Sunday, 17 November 2019 between 06:00 to 11:00.
  • Customers acting in ICP mode and using an automated connectivity channel (SWIFT, MQ or File Transfer (FT)) to receive the CBF settlement reporting are requested to check the modified reporting times where applicable. CBF will provide the files according to the existing message subscription. Depending on the T2S Release 3.2 timeline, files might be empty and will be transmitted only if empty reports are ordered. In addition, the customer’s technical infrastructure should accept and store the provided files. Otherwise, the information / data will be lost. CBF recommends accepting files at any time during the T2S Release Weekend.
  • Customers acting in DCP mode must be prepared to use the updated XML scheme (XSD) once T2S Release 3.2 has been successfully implemented. Any instruction that will be transmitted to T2S:
    • On Friday, 15 November 2019, before 20:00, and is accepted by T2S will be converted by T2S. Once the deployment activities are complete, the instruction is processed using the modified processes. The corresponding reporting is sent based on the new XSDs / formats.
    • On Friday, 15 November, after 20:00 must take the new XSD / format into account. If the latest definitions are not used, the instruction will be rejected when T2S reopens after the software deployment.
  • On Friday, 15 November 2019 at 20:00, T2S will close the online functionality (T2S GUI, U2A) and the “Straight Through Processing” channels (STP, A2A). On Sunday, 17 November 2019 at 11:00, T2S will start its maintenance window. Incoming instructions that will reach T2S during the deployment phase or maintenance window are queued. After the reopening of T2S, these instructions will be processed, either on Saturday, 16 November 2019, after the software implementation or on Monday, 18 November 2019 from 05:00, in line with the T2S Operational Day.
  • Customers acting in DCP mode and using the “YCON” procedure to receive real-time settlement reporting via CBF need to consider that these messages will be transmitted on Sunday, 17 November 2019, after CBF has started to provide the settlement results in ICP mode.
  • For the processing via KADI (CBF in its role as Issuer CSD) and Custody (OneClearstream markets), the following processing applies:

    In general, settlement instructions resulting from corporate actions processing will be created on Friday, 15 November 2019, in line with the regular business day and presented to T2S before the system will be closed for the deployment activities. On this processing day, customers will receive Corporate Actions messages (MT564, MT566, MT568) only from 22:00 onwards, deviating from the regular transmission time (that is 19:30).

    Further Corporate Action Confirmations (MT566) reporting will be transmitted to customers. The related reporting, which is generated via
    • Custody will be sent in real-time mode on Sunday, 17 November 2019, once CBF has finalised the deployment activities. This means that the reporting can be provided after 06:00 until the CBL maintenance window will start (at around 11:00).
    • KADI will be transmitted on Sunday, 17 November 2019 from 07:30.
  • In general, the processing at Clearstream Banking S.A., Luxembourg (CBL) is not impacted by the T2S Release Weekend procedure. The CBL procedures related to CBF or executed for CBF will run in the existing business as usual mode. However, the securities settlement of instructions against a foreign currency will shift. The cash management at CBL will be conducted according to the CBL timeline and the cash settlement result will be presented to CBF. CBF will queue these results. The settlement of the securities leg will be possible once CBF transmits the release instruction for the “CoSD Hold” to T2S. Therefore, the reporting of the cash settlement and securities settlement will be provided at different times.
  • CBF’s processing with the T2S Out-CSDs DTCC and SIX SIS will remain unchanged. Customers’ settlement instructions will be forwarded to these CSDs in accordance with the market deadlines. Settlement results and feedback for pending instructions from these CSDs will be transmitted to T2S once CBF releases the queued instructions for the T2S Real-time Settlement (RTS) cycle scheduled for Sunday, 17 November 2019.

CBF customer communication on the T2S Release 3.2 Deployment Weekend

Before and during the T2S deployment weekend, “Operational News” will be published on the Clearstream website, to which CBF customers can subscribe to be informed about the progress of the implementation of T2S Release 3.2. The following table provides an overview of the planned "Operational News" and respective "Alerts". Customers who would like to be informed constantly on the progress can set up the subscription of "Alerts" for "Operational News" in the MyClearstream section under Subscriptions / Real-time alerts.

Envisaged customer communication
„T2S Release 3.2 Deployment Weekend“

Operational News


Due date / time (CEST)


T2S Release Weekend Schedule
Latest status for planning
Monday, 11 November 2019,


Completion of CBF End of Day Processing Friday, 15 November 2019Friday, 15 November 2019,


Green Light for
T2S Software Deployment

Friday, 15 November 2019,


Start of Transmission (A2A)
T2S Settlement Messages / Reports

Sunday, 17 November 2019, 02:00


Start of Transmission
Clearstream Settlement Reporting

Sunday, 17 November 2019,


Completion of T2S Real-Time Settlement (RTS) and Start of Maintenance Windows

Sunday, 17 November 2019,

Once an above-mentioned milestone has been achieved, CBF will promptly publish the “Operational News” with the updated status in English. An alert will inform subscribed users about the publication of the operational news.

CBF Indicative Timeline for the T2S Release 3.2 Deployment Weekend

The attached timeline indicates the changes in the CBF operational schedule during the T2S Release Weekend.

The timeline created by CBF is based on the T2S Playbook that was made available on 6 November 2019. The plan covers the period from Friday, 15 November 2019, at 18:45 to Monday, 18 November 2019, at 06:00. Events and processes before and after this specific period can be considered as unchanged. To indicate the changes, a column “Revision” is available. It shows:

Processing in line with daily operational schedule

Process / reporting will not be executed

Process ahead compared to daily operational schedule; see revised time

Process postponed compared to daily operational schedule; see revised time

Publication Operational News

Notes for the start in production

Based on the CBF deployment approach for the message flow for KADI instructions via LIMA, customers need to consider that the cancellation reporting for LION instructions will be updated. Starting Monday, 18 November 2019, in MT537 (Statement of Pending Transaction for LION instructions) the cancellation of an instruction resulting from a transformation will be reported with the value “CAND/DAKV/CANT”.

During the deployment weekend T2S will enable the following services:

  • Partial Release functionality (T2S-CR-653-SYS) for delivery instructions
    This service will not be fully available with the deployment of T2S Release 3.2. T2S plans to gradually correct the deviations identified during the test in the coming months up to the implementation of T2S Release 4.0 (June 2020). The details of the required issue resolutions are described in the section "Known Limitations”.
  • Maintenance / reporting of the field “Place of Clearing” (T2S-CR-606-SYS).
    Customers acting in DCP mode and using the T2S GUI are advised to refer to the Problem Ticket "PBI 205090" regarding the display of the "Place of Clearing".
  • New settlement status "PENF" (T2S-CR-609-SYS)
    The implementation is carried out in two steps. With T2S Release 3.2, T2S will implement the new status and transmit the indicator with the existing status reporting if an instruction could not be settled on the Intended Settlement Date (ISD). This means that the status "PENF" is not reported before the next status change. With T2S Release 4.2 (T2S-CR-0692-SYS), the comprehensive reporting functionality is activated and the status is transferred for the first time once the related "T2S cut-off time" has been reached.

Customers wishing to use the new services need to consider the following timeline:

Connectivity mode


ICP Mode: Automated connectivity channels

From Monday, 18 November 2019 at 05:00, customers can send instructions with the new field “Place of Clearing” or transmit MT530 (Transaction Processing Command).

ICP Mode: CASCADE Online functionality

With the opening of the Online functionality (HOST / PC), instructions can be entered or modified from Monday, 18 November 2019 at 01:30.

DCP Mode

Incoming instructions that will reach T2S during the deployment phase are queued. Therefore, customers can start to trigger “Partial Release Requests” or present the new field “Place of Clearing” on Friday, 15 November 2019, after 20:00.

Customers acting in DCP mode that opted to receive outbound messages in bundled files (T2S-CR-613-URD) need to be prepared for the new transmission procedure, if the file option is activated from 18 November 2019.

Known Limitations

Based on the concluding test results, T2S added the following Problem Tickets (PBIs) for a later implementation. Customers are recommended to review the specified production problems for operational and / or functional changes in their processes.

PBI 205039: Cross-border instructions CSD partial release not initiated

For the cross-border instruction, the partial release was not initiated during partial settlement window (PSW) even though the Partial Release request was successfully instructed. During the PSW no status reporting was provided, but a cancellation message with the rejection code “SPSA005” was transmitted after the cut-off time.

This PBI is intended to be solved with priority ("Hot Fix"). The current plan envisages a delivery of the correction on Friday, 30 November 2019.

PBI 205090: T2S GUI: Discrepancy in display of Place of Trade

The "Place of Trade Code" in Settlement Instruction - Details screen does not show the ISO code, as indicated in the UHB, but a translation is presented. The ISO code (format 4X) must be reported in line with the UHB and coherent with the “Statement of Pending Instructions”.

The resolution has already been evaluated by the Operational Managers Group (OMG) and the deployment of the fix is planned for T2S Release 4.0 in June 2020.

PBI 205355: T2S GUI: No Remaining released quantity and Remaining quantity on hold after partial release

After the entry of a Partial Release request, the “Remaining released quantity and Remaining quantity on hold” are not reported for the related instruction on the “Revision and Audit Trail” screen.

The related correction is to be prioritised at the end of November 2019.

PBI 205369: Maintenance of Partial Release requests

During the testing two deviations in the maintenance of Partial Release requests have been reported. If a “full release” is transmitted to an instruction that is partially released, T2S will not consider the instruction for the full release. The intended update of the instruction can be achieved, if the customer transmits in a first step a “Hold” instruction and in a next step the “Release”.

In addition, T2S informed that if a partial release process is cancelled, the status reporting is not always presented in the right order (that is, T2S presents the new status prior to the reporting of the cancellation request). CBF has already implemented a process that checks the order of the status reporting presented by T2S. Customers operating in ICP mode will not recognise the deviating reporting.

This PBI will be resolved in steps. For the issue related to the “full release” a "Hot Fix" will be delivered on Friday, 30 November 2019. After the implementation, T2S will reject the maintenance instruction requesting a “full release” on an instruction that is currently partially released. The above-mentioned workaround using “Hold” / “Release” instructions will still be possible. The resolution of the further functional deviations will be agreed with the Change Request Group (CRG). CBF will inform customers about the next steps.


For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer. Particular questions related to this Annoucement will be routed to the experts of the T2S Settlement Functionality team.


1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. All times in the Announcement are specified in Central European Time (CET).